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Question related to accounting for labour

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Question related to accounting for labour

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 25, 2024 at 3:49 am #701057
    anqa
    Participant
    • Topics: 17
    • Replies: 10
    • ☆

    A contract cleaning firm estimates that it will take 2250 actual cleaning hours to clean an office block unavoidable interruptions and lost time are estimated to take 10 percent of operative time if the wage rate is dollar 24 per hour what is the budgeted labor cost

    February 25, 2024 at 4:47 am #701058
    anqa
    Participant
    • Topics: 17
    • Replies: 10
    • ☆

    Assume that the company adopts eoq of 3500 barrels as it’s order quantity and that it now takes two week for an order to be delivered the demand
    Is 36750
    Required

    Question How frequently will the company place an order
    2 how much inventory will it have on hand when the order is placed

    February 25, 2024 at 7:47 am #701069
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54680
    • ☆☆☆☆☆

    I do not know why you have asked your first question again because I have already answered it.

    February 25, 2024 at 7:55 am #701070
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54680
    • ☆☆☆☆☆

    Your second question is nothing to do with labour. In future please start a new thread when you are asking a question on a different topic.

    If the order 3,500 barrels each time, then they will need to place 36750/3500 = 10.5 orders a year. If there are 52 weeks in a year (although in exam questions you are often told to assume that there are 50 weeks in a year) then they will place an order every 52/10.5 = 4.95 weeks.

    If it takes 2 weeks for an order to arrive then they need to place an order when they have enough units left to last 2 weeks. So they need to place an order when they have 2/52 x 36750 = 1413 barrels left.

    Have you watched my free lectures on this, because it is all explained in the lectures. The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.

    (Also, why are you attempting questions for which you do not have an answer? You should be using a Revision Kit from BPP. It is full of exam standard questions for practice and has answers and explanations.)

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